Teams officially agree to a reduced cost cap for 2021
A cost-cutting package for the 2021 season has been agreed upon by Formula 1 teams, the package including a reduced $145 million cost cap.
In a vote, teams agreed to drop the originally planned cost cap of $175m by $30m to just $145m. This figure has been public knowledge for some time, but now Formula 1 officials can take the regulation to the FIA world motorsport council for the final seal of approval.
In a bid to close the gap between the race winners and backmarkers, Formula 1 has added something close to the 'balance of performance' often used in endurance racing.
Specifically, this relates to the aerodynamic development of the cars.
A defined base-level of wind-tunnel time and data will be established, and the 2020 champions will be allowed to use just 90% of that number in 2021.
Going down the order, each team will be granted 2.5% extra time, with the team finishing in last place permitted to complete 112.5% of the base number.
For 2022, this will change again, with stable regulations meaning that the victors will be down to just 70% of the base figure, while 5% increases per team would see the last place finishers up to 115%.
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